Technological Advances to Boost the Global Amino Resin Market | Technavio

November 20, 2017

LONDON–(BUSINESS WIRE)–#Coatings–Technavio’s latest market research report on the global
amino resin market provides an analysis on the most important
trends expected to impact the market outlook from 2017-2021. Technavio
defines an emerging trend as a factor that has the potential to
significantly impact the market and contribute to its growth or decline.

The global amino resin market is expected to grow at a CAGR of more than
6% during the forecast period because of the high demand for amino
resins as a wood adhesive in the production of materials such as
plywood, particle boards, and MDF. APAC is expected to witness the
highest demand driven by the high demand for wood panels in countries
such as China and India.

This report is available at a USD 1,000 discount for a limited time
only: View
market snapshot before purchasing

Buy 1 Technavio report and get the second for 50% off. Buy 2
Technavio reports and get the third for free.

The top three emerging market trends driving the global amino
resin market according to Technavio research analysts are:

Remarkable growth in APAC
Growing demand for melamine in automotive industry
Technological advances

Looking for more information on this market? Request
a free sample report

Technavio’s sample reports are free of charge and contain multiple
sections of the report including the market size and forecast, drivers,
challenges, trends, and more.

Remarkable growth in APAC

Amino resins are mainly used in the home appliances and furniture
industries. APAC is expected to account for the highest growth in both
the industries during the forecast period. Hectic working schedules and
rising disposable income are factors that have driven individuals to
invest in technology. This is driving the demand for home appliances in
APAC. The rapid urbanization is also a factor that is driving the growth
of home appliances in this region.

“With the rapid growth in population, APAC is expected to witness
high demand for amino resins from the housing and furniture industry.
These industries are expected to have decent growth during the forecast
period which will lead to an increase in the demand for amino resin
binders, such as urea formaldehyde, melamine formaldehyde, and melamine
urea formaldehyde,” says Kurva Samba Sivudu, a lead analyst at
Technavio for paints,
coatings, and pigments research.

Growing demand for melamine in automotive industry

The increasing demand for melamine in the automotive industry is
expected to create various growth opportunities for the product soon.
The demand for melamine is growing because of its superior properties
such as high chemical resistance, hardness, and thermal insulation.
These properties attract manufacturers to use it in surface coatings and
laminates of automobile interiors.

In the automotive industry, melamine is used in fuel system components
(pump housing, filters, impellers, and gas caps), under-the-hood
components (molded components and automatic transmission parts), and
interior decoration. These emerging applications are expected to drive
the demand for melamine in the automotive industry.

Technological advances

The global manufacturers of amino resins have increased their R&D
expenditure in the recent years. This expenditure is mainly focused on
developing a production process that can reduce the overall production
costs. The factors that can help in reducing the production costs,
especially in APAC, are the easy availability of raw materials, low-cost
labor, and lenient regulations.

“Stringent government regulations in regions such as Europe and North
America are compelling manufacturers to find safer methods for
formaldehyde production. This has also led to technological advances
which will help in reducing costs and increasing the profit margins.
Thus, technological advances are expected to attract more vendors
in the market, which will improve the demand-supply ratio of amino
resins,” says Kurva.

Browse Related Reports:

About Technavio

Technavio
is a leading global technology research and advisory company. Their
research and analysis focuses on emerging market trends and provides
actionable insights to help businesses identify market opportunities and
develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists
of more than 10,000 reports and counting, covering 800 technologies,
spanning across 50 countries. Their client base consists of enterprises
of all sizes, including more than 100 Fortune 500 companies. This
growing client base relies on Technavio’s comprehensive coverage,
extensive research, and actionable market insights to identify
opportunities in existing and potential markets and assess their
competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team
at [email protected].

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US:
+1 844 364 1100
UK: +44 203 893 3200
www.technavio.com